10 December 2017

Summit Gazipur II Power Ltd has signed a Project Agreement with Bangladesh government to supply 300 MW (net) electricity for a period of 15 years at Bidyut Bhaban, Dhaka. Under this agreement, Power Purchase Agreement (PPA) and Implementation Agreement (IA) were signed.

The Power Purchase Agreement (PPA) was signed by Bangladesh Power Development Board (BPDB) Secretary Mina Masuduzzaman and Managing Director of Summit Gazipur II Power Ltd Engr Md Mozammel Hossain.

The Implementation Agreement (IA) was signed by Joint Secretary - Development of Power Division- MPEMR Sheikh Foyzul Amin, Power Grid Company of Bangladesh (PGCB) Company Secretary Md Ashraf Hossain and Managing Director of Summit Gazipur II Power Ltd Engr Md Mozammel Hossain.

Honorable State Minister for Power, Energy and Mineral Resources Nasrul Hamid, MP was present as the chief guest while Secretary of Power Division, Ministry of Power, Energy and Mineral Resources Dr Ahmad Kaikaus was the special guest at the ceremony. Other senior officials such as Chairman of BPDB Engr Khaled Mahmood, Managing Director of PGCB Engr Masum Al-Beruni, Chairman of Summit Group Muhammed Aziz Khan, Vice-Chairman of Summit Group Muhammad Latif Khan, Vice-Chairman of Summit Group Md Farid Khan, Additional Managing Director of Summit Corporation Faisal Khan, Managing Director of Summit Power Limited Lt General (Retd) Engr Abdul Wadud were also present.

According to the agreement, by mid-2018, the Summit Gazipur II Power Ltd will commence commercial operation. Earlier on 10th August 2017, the Summit Gazipur II Power Ltd had received Letter of Intent (LOI) from the BPDB.

About Summit Gazipur II Power Ltd:

Summit Gazipur II Power Ltd is a joint venture project company of Summit Corporation Limited and Summit Power Limited (SPL), a publicly listed company in Bangladesh. Summit Gazipur II Power plant is located in Kodda, Gazipur about 30 km away from Dhaka city. This will be a HFO fuel-based power plant that will run on efficient reciprocating engines from Wärtsilä, Finland. When it will be operational in mid-2018, it is expected to be the largest reciprocating engine run power plant in Bangladesh supplying 300 MW to the National Electricity Grid. At the same location, Summit is also constructing another power plant with 149 MW capacity.